Skip to main content

About your Search

20121224
20130101
STATION
CNNW 29
MSNBCW 22
KGO (ABC) 9
KPIX (CBS) 6
WBAL (NBC) 6
WMAR (ABC) 6
WRC (NBC) 5
FBC 4
KRON (MyNetworkTV) 4
WTTG 3
WUSA (CBS) 3
CNBC 2
KQED (PBS) 2
KRCB (PBS) 2
KTVU (FOX) 2
( more )
LANGUAGE
English 134
Search Results 0 to 49 of about 134 (some duplicates have been removed)
in the fiscal cliff diminishes. >> i don't think there is a grand bargain but hope a deal will be cut. >> reporter: if congress doesn't change tax cuts in day, middle income earners will owe extra by the end of the year and they will cut back on auto industry, apparel and entertainment. >> once they cut back on that, that will be dramatic. >> reporter: retailers support 1 in 4 american jobs and if the downturn intensifies, those jobs are at risk. >> if retailers stop creating jobs, the economy as a whole stops creating jobs. >> reporter: the weight is excruciating for some and president obama left them $200 billion apart. >> the president was $200 billion higher on revenues and speaker boehner, $200 billion higher on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decisions ahead, six days left. >> lawmakers will likely take on spending reform and tax cuts when the debate heats up. >> looks like they will be working over the new year. >>> a note was left by a suspected shooter that killed two firefighters christmas eve in new york. more
an inane debate about that. now it's the fiscal cliff. and whether or not across the board cuts should be made to all kinds of services and programs because the super committee couldn't do what it was supposed to do. this doesn't help trying to put the country forward, put americans back to work, reestablish our prominence around the country and the world as the great nation we are. we need to see much more business and action out of washington. the cities require it, mayors need it, more importantly, americans are demanding it. >> something you'd like to see action on, mayors against illegal guns, there seems to be this push towards that. mr. biden has his own commission regarding it, but there is a worry amongst some folks once time passes, once we get past the state of the union, this could fizzle out. knowing how much gun control has talked about -- >> not going to happen. >> why not? why is it going to stay a pertinent part of the conversation in the public going forward? >> i think the public has been shocked and their conscience has been put on the carpet here with this one, and
. >>> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. the deadline is only six days away. the president plans to leave hawaii today and head back to washington to meet with lawmakers. where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the ground, but police say
a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill has to extend unemployment insurance that would affect some 2 million americans, and increase taxes for the highest income earners. negotiators can still work out exactly where that tax increase would hit and whether they would halt an increase in the estate tax. in case those discussions break down, the president has asked democratic leader harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. that's really a democratic proposal, and you can expect republicans to block it. rather than thinking of that as a stop gap measure, you should probably think of it it as a political measure to shift the responsibility for failure onto republicans just before the nation hits the hour of reckoning.
at the white house to try to cut a deal to avoid the so-called fiscal cliff. in just four days across-the-board spending cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. perhaps $6 per gallon. at issue is the farm bill and how much the federal government pays farmers. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. that has dad sean rasmussen worried. >> they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation government prices revert back to 1939 levels. back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk would be far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extreme
. >> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. >> president obama is cutting short his christmas vacation. he is leaving hawaii tonight so that he can be back in washington when congress reconvenes tomorrow. >> laura: so we should believe that by leaving his island enclave that the president was making some big sacrifice for the country? i'm thinking washington, crossing the delaware on a bitter christmas night 1776 before going on to defeat the british in two major battles, that's sacrifice. i, for one, never understood how in good conscious any of these politicians would think about leaving town with so much riding on this cliff hanger? shouldn't they get their work done before they leave town for a break? that's what's expected for most working americans but then again washington politicians have rules of their own. people whose salaries that we pay are called public servants. meaning they verve us. not the other way around. we don't work to make their lives better. they are supposed to make ours better. the operative word here being work. so muc
. if it does go to the fiscal cliff and we go over it, sequestration would cut only $109 billion next year. that is actually not a lot in a budget of almost four trillion, is it? >> it's not a lot of the total number, half of that goes to defense which are own admirals and generals have said and secretary of defense would be devastating. this comes on top of -- $50 billion in one year to the defense. and it doesn't touch at all medicare and the other entitlement programs. >> gregg: biggest drivers and cost and absolutely nothing has been done about those things? >> it's criminal. she is things are going to destroy us. we can live with higher taxes, you might not think it's the best idea on the rich. i think it's a way to go about it but we can't survive we are without adjusting our entitlement reform unless it is addressed. >> gregg: jamie weinstein, it's criminal -- i didn't take it that far but you do did. >> without a fiscal cliff teal the pentagon is bracing for $500 billion but that is over the next decade and raises questions how military leaders plan to keep the nation safe. >> last
obama's cutting his hawaii vacation short, it turns out, to take on the fiscal cliff and crisis in washington. >>> also we're keeping an eye on new violence in syria. one of the regime's highest-ranking generals has actually switched sides. >>> plus, a newspaper actually lists the names and addresses of folks who hold gun permits. is that right or wrong? it's all "happening now." kelly: welcome, everyone. first, tracking a powerful winter storm moving across the one right now -- country right now, this hour, threatening travel plans for thousands of americans just trying to get home after the holidays. i'm kelly wright in for jon scott. jamie: i'm jamie colby, and patience is definitely going to pay this holiday day. the massive storm already blamed for at least three deaths down south, and it spawned more than 30 tornadoes, very unusual for this time of year, across four gulf states. take a look at. >> oh, my
to understand exactly what this fiscal cliff is. it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they are all about to expire at the end of the year. so on midnight december 31, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they are less likely to hire, and the whole economy could slow down at a time when the economy is actually starting to pick up. we are seeing signs of recovery in housing and in employment numbers improving. and so what congress needs to do, first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a major topic of discussion throughout the campaign. what i said was that we should keep taxes where they are for 98% of americans. 97% of small businesses. but if we're serious about deficit reduction, we should make sure
would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one scenario that is absolutely the case. we shouldn't actually be surprised. it has been clear at least for a short amount of time that this hasn't been the goal of these discussions. i mean for all the talk about deficit reduction and despite the fact that this began as an effort to rein in spending after the 2010 elections, it is clear democrats in the house and senate, i would argue the president, haven't been serious about long-term spending cuts. gregg: maybe they're not serious, you know, they see a political benefit to literally going over the fiscal cliff? >> yeah. i think there's, obvious political incentive for the president to go over the fiscal cliff at this point. if you think where we will be in just two days, and you're the president of the united states looking back on this, taxes will have gone up, defense cuts his uniform military have warned against will begin to be imple
of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy in the long term. but, you know, so far, at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> you talk about a dysfunction in washington. you signed this legislation setting up the fiscal cliff 17 months ago. how accountable are you for the fact that washington can't get a
this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a major topic of discussion throughout the campaign. what i said was, that we should keep taxes where they are for 98% of americans. 97% of small businesses. but if we're serious about deficit reduction, we should make sure that the wealthy are paying a litt
will be checking in with erica in just a few minutes but before we get to erica let us talk about the fiscal cliff we are in the final hours from keeping lawmakers from going over that so- called fiscal cliff. >> economist there that the combination of automatic spending cuts and tax increases could trigger a new recession. >> and spencer explains how negotiations today must now overcome a " major setback. >> there will be part of it that i find disgusting rest principle which i may have to swallow in the name of compromise. be a rare session on capitol hill. >> the senate will come to order. >> as lawmakers try to avoid the so-called fiscal cliff. >> both sides agreed to push forward. >> i want everyone to know i am willing to go the distance. but i need a dance partner. >> vice-president joe biden departure for mcconnell. >> if is not resolved by midnight tonight tax increases will be for all americans. >> one mom said to me in michigan that is four months' worth of groceries. >> that is gas for me back and forth to work. >> democrats won higher taxes on americans earning more than two of the $5
to deal with the long-term fiscal health of the country which is what the fiscal cliff was supposed to be an incentive to do, we're expecting now that this is just some measure to avert the fiscal cliff which is the tax hikes, the spending cuts, each if they deal with the spending cuts and we're waiting to see what the measure will look like. i know what a hard-hitting white house reporter you are. i want to know whether it's apple kay, pumpkin pie or peekan pie for the president and first family on christmas day. any news on the menu? >> reporter: no, i am still waiting to find out. maybe we'll find out a little later today. you don't frequently find out until they have just released it, until the white house releases the information so we'll be standing by to let you know how the president spends his holiday. nothing on his public schedule, but, you know, he normally visits with troops so we're expecting he might do that today here in hawaii. >> that would be a wonderful way to spend christmas day. brianna keilar live from honolulu, hawaii, thanks. >>> other stories in the news, a
obama and congressional leaders cut their vacations short, to deal with fiscal cliff negotiations. they have five days to make a deal. and housing continues to be the bright spot in the u.s. economy: home prices post their biggest advance in two years. that and more tonight on "n.b.r."! christmas may be over, but the holiday shopping season
of tax cuts, which later led to a near government shutdown in 2011 and then the current fiscal cliff battle. so i got to ask this, when you were all kind of sitting around, drinking coffee and coming up with this idea, did you, you know, see all this working out? or did you even think about what the end of 2012 would be looking like? >> well, alison, let's look back a little bit and first remember how we got here. and, you're right, in 2001, we were worried about the president was worried about the storm clouds on the horizon in terms of the economy. and so we were looking for a fiscal stimulus that might be helpful to the broader economy and therefore you got the first round of bush tax cuts which reduced rates on -- marginal rates across the board. but most importantly brought the top marginal rate from 39.6% to roughly 36%. and what that did was allow top rate taxpayers who are often were individual citizens that run small businesses have the ability to have reduced tax rates and then as a consequence have that stimulus and have more capital to hire and to bring other people into
down toward the fiscal cliff deadline and looming tax hikes and spending cuts, that will impact nearly every single american we are just hours away from a crucial white house meeting of the president obama and leaders from the house and senate will sit down for their first face-to-face since november! but what can they hope to accomplish with so little time left, and at this point do they even want to come up with a solution? joining us oklahoma congressman james langford, incoming chairman of republican policy committee and serves on the house oversight and budget committees. congressman, are we going over the cliff? >> well we certainly hope so, hope not actually, but trying to get this resolved. the house as you know full well passed all of our sequestration documents in may. passed all of our tax documents in august and we have waited for the senate all this time and for the president frankly all this time. frustrating for the house did all our work early and be at the point we never hoped to be at. jon: when senate majority leader harry reid says speaker boehner, leader of the hou
. real nut he's cutting it short, heading home later this week to bu heading hothe fiscal cliff as well. lor:lor: nancy, the white house ouses they have a much better chance dealing with reid as opposed to boehner? >> well, jeff, essentially they're hoping-- democrats are-- that republicans will consider piis plan even if they don't rike it the last train leaving the station so that even if this is not the package that republicans would have chosen, en,t they'll vote for it anyway vote fe otherwise taxes will go taxor everyone on january 1. >> glor: nancy cordes in hawaii. nancy, thank you. the fiscal cliff could mean severe cutbacks and layoffs in cliff couelds, like many medical research. that's forcing leaders to make mugh choices right now. here's wyatt andrews. he andreporter: professor kerri mowen, like hundreds of medical kerearchers, has already fallen off the fiscal cliff. her budget-- which relies on of federal grants-- is being cut by - % now as the n.i.h.-- the national institutes of health-- prepares for the possibility of utes of hes later. >> it's much bigger than just my
have hours go before the fiscal cliff deadline when dramatic increases and spending cuts kick in. congressional leaders and vice president biden are struggling to avoid the fiscal cliff. those negotiations continue this morning. nancy cordes is on capitol hill. nancy, good morning. >> reporter: good morning to you, norah. they have appeared to move closer to one another. democrats have come way up from the president's longstanding position that the bush tax cuts should expire for all household income over $250,000 a year. republicans have come way down from speaker boehner's insistence that that limit be set at a million dollars. and so if there's a deal today, and that's a big "if," you can expect it would be set around $400,000, $500,000, $600,000 a year, so certainly 90, 95% of americans would be keeping their tax cut. one of the biggest sticking points for the republicans right now appears that this deal doesn't include significant spending cuts. in fact, it contain as lot of new spending and so that is one major issue that's going to have to be ironed out. and if they don't
the fiscal cliff. he promoezed that we don't tax -- no tax increase until $400,000, instead of $250,000. he proposed -- he said he would be willing to go with the republican demands for entitlement cuts cutting colas on social security which i think is obnoxious and will not vote for under any circumstances. he made a lot of concessions, too many. the republicans showed, though, when they voted against cutting taxes for 99.8% of americans, because they wouldn't allow taxes to go up for people above $1 million, they showed that it's very difficult to do business this w them. >> you said the president made too many concessions. >> i think so. >> were you more a fan of the $250,000 and less than that or -- >> i'm more of a fan of the $250,000 but mainly, mainly i would not vote for a nickel in -- under any circumstances for a nickel in cuts to social security benefits. >> so when we look at that and there are those on the right that say i won't vote for a nickel in revenue and then you coming on saying i won't vote for a nickel less than what people are getting -- >> on social security. that's
are already taking a good hard look at their wallets as confidence the avoidance of the fiscal cliff diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new y
the fiscal cliff. tax hikes and spending cuts are just hours away. >>> despite the looming cliff, party preparations are under way on this new year's eve. it's nearly time for the confetti and champagne as we welcome 2013. >>> and an emotional and triumphant return to the sidelines. for indianapolis colts coach chuck pagano. his team's inspired season isn't over yet.
is cutting short his vacation to head back to washington to try to reach a compromise on the fiscal cliff. congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and we know this one isn't being returned today. that's simply because it's the family's dog. >> this is such a heartwarming story. it was stolen from a street in new york city. now, thanks to good samaritans the dog is back home. andy seal of wabc reports. >> oh, yes. >> reporter: angie estrada and her daughter, mia, never thought they would see their dog, marley, again. >> he's so fluffy. and he's so adorabldorable. i can't trim the tree without him. it's hard to be without him. >> reporter: marley, last seen being dog-na
off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which politicians kept bringing up during this last election which is the that the uncertainty is what makes people nervous in the business world. is this the kind of uncertainty they were talking about? >> it absolutely is. you mentioned before the retail sales numbers for this christmas season and the retail sales numbers for this christmas season were very poor, very soft. this is both individuals and individuals affecting companies making decisions and it's really largely driven by their significant uncertainty about what's going to be their tax rate in 2013. they're really postponing any spending and it clearly affects
cliff occurs. >> ifill: the across-the-board cuts. why does it work that way? >> in the event no deal is made and we do have the automatic cuts known as sequestration starting in january, federal employees face job loss and in some situations-- certainly in the department of defense-- but throughout the federal government people will be furloued, forced to take unaid days o, anywhere from 20 to 50 days. we really don't know. it depends in part on the agency and it depends in part on how much of the remainder of the fiscal year these cuts are squished into. so it's -- that's one bad situation. and then the so-called grand bargains and deals, many of those include provisions that would cut federal retirement benefits and extend the current pay freeze for an additional three years so that federal employees would go five full years witout anpai a justments. >> ifill: hugh johnson, if you were an investor or a business owner and you're watching wall street watch the fiscal cliff debate what are you telling them? are people nervous? >> well, even though i think there's been some positive th
the fiscal cliff. meanwhile, president obama cut his hawaii vacation short to return to washington today. but has he been working on a deal? "outfront" tonight, reports from both ends of pennsylvania avenue. chief white house correspondent, jessica yellin, and senior congressional correspondent, dana bash. jessica, first, to you, the president's back in washington, wheels down. he left his christmas vacation early. but was this just a bit of showmanship, or has he been working on something specific? >> reporter: hey, john. well, today has been a bit of a quiet day here at the white house. publicly, the president has been scarce, no sign of him. behind closed doors, i'm told a few meetings internally, but mostly, relatively quiet. i expect we will see more from the president, perhaps we could even see him publicly tomorrow. perhaps he could even meet with or talk to some of the congressional leaders. the president's role in all of this, he can get each of the leaders to come closer on what the white house believes is already, pretty clearly, the framework for a final deal, and he can also
want to see a fiscal cliff deal. if it cuts the heck out of all kind of programs, then you can have a deal that is actually a real drag on the recovery as well. maybe not a recession, but a slower year than we otherwise would and slow growth. again, there's two percentage points in the payroll tax scheduled to increase on january 1. if you look at how negotiations are going, it looks like it's going to happen. the typical family's taxes by $1,000 over the course of a year. >> the final one, we are talking debt ceiling. you think the fiscal cliff thing is bad for the economy. you wait and see if they can't get the debt ceiling worked out. >> right. it's one thing to go over the fiscal cliff. that would be bad. we don't want to it happen. a recession may happen. it would be unfortunate. it's different than the u.s. defaulting on the debt. you know, we saw that back in august, 2011, we saw the downgrade of the credit rating. just by having the threat of not approving the debt ceiling increase and the possibility of default. it comes around again at the end of february, beginning of mar
and maryland. president obama cutting his vacation short a comeback for the fiscal cliff tops. the senate is open for business and senate majority leader urging speaker of the house to pass the senate version. it keeps the taxes from going up on americans making less than $250,000 a year. speaker banner has already had problems trying to get the deal past to raise taxes on of americans making over $8 million a year. the $250,000 limit will not fly. >> sent this three authorization it goes right to the president that if we except the house bill and get it signed. if it goes past the first of the program goes down. the program is interrupted. this is important. it has the support of national security the attorney general air coulter and other national security officials who have made clear as to the importance of this. at this time following my remarks i would like to enter the letters into the record. >> here on the floor the senate it is getting back to work trying to get the house to attending. president obama just getting off of air force one right now. he has already made phone calls t
one is avoiding the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cu
but the truth is i think the president is hoping to go over the fiscal cliff. he can enact tax increases, cut defense spending and blame it on the republicans. the problem is we have had harry reid and the senate democrats haven't passed a budget plan in three years and they're looking at just raising taxes. we need to seriously address the spending in this country and we haven't had that from the democrats. we have to have that for things to pass. really get this deficit under control. >> all right. so keith, that was a loud sigh that you just gave. >> you heard that? >> i think everybody at home just heard that. so you obviously do not agree with alice's assessment there. i want to show debbie wasserman-schultz's quote. no 48-notice on house votes just yet. the president has a lot to gain politically with the blame on republicans for letting all of the country go over the cliff and the fact that they seem to hold on with the death grip for millionaires in this country. >> the republicans will be blamed it seems according to the polls going over the fiscal cliff but the president is responsi
will avoid the fiscal cliff before the year ends. >> speaker boehner was $200 billion higher on spending cuts and out of a $4 trillion budget that doesn't seen insurmountable so i hope they keep talking. >> congress is expected to be back in session thursday and without a deal, tax hikes and deep spending cuts will be triggered on january 1st. >>> coming up tonight on the 10:00 news from flooded roadways to sinkholes. >>> our stormwatch coverage continue as a powerful storm leaves behind a mess in the bay area. >> thank you for trusting ktvu channel 2 news. >> we'll see you the next time newsbreaks and we're on-line at ktvu.com. we'll see you tonight at 10:00
than 24 ours until so-caaled "fiscal cliff"... e - &pfierce faceeoff... over a set of spending cuts and tax hikes. hikes.econommsts fear the combination of the two... &pif nothing is resolved by midnighh tonight... tax rates for all ameriians will increase. democrats say it means about 2-thousand dollars for the average middle-class faaily. 1:09 "the president is doing nothing about the aadiction that his administration has to spending. he'ssthe spenddr in chief." democrats want higher taxes on republicans want tax rates to d- stay where hey aree nd entitlemmet spending reeuutions. taxes seem to be the biggest obstacle to a compromise. but others just want to see governmenn ""ne mom said to me ii -grocer commuting back and forthhto work in gas forrup to three years, i mean that's a lot of money." the senateeis scheduled to reconvene at 11 o'clock this morning. 3even if lawmakers don't come to angreement tonight... you probabllywon't see a drastic phange in your next aycheck. that's because bbsineeses likely used 20-12 withholding rates... uncertaii about hat would happpn. happen
the fiscal cliff. here is what it is. extend the bush tax cuts for people making less than $250,000. extend unemployment benefits for the 2 million people who will run out next month and delay the sequester of $110 billion in spending cuts next year. for all of the talk of $4 trillion in debt reduction this plan would only save $800 billion over ten years. senator conrad is that the best that washington can do over the next nine days and can you pass even that? >> look, chris, it may come to that but we can do better. and we should do better. this is an opportunity to do something that would be hugely important for the country. i mean my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the $1.1 trillion that has already been done and that would be close to the $4 trillion we are needed to stablize the debt and to begin to bring it down and then if you wanted to add on the alternative minimum tax which costs about $800 billion to fix you could offset t
in hawaii and, yes, christmas brings us one day closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning bright and early. we've been at it for a few hours. we expect them to have a nice christmas meal at the house they're renting. the white house chef is here. maybe we'll get details on what they are going to eat. there is nothing on the president's public schedule. he is frequently gone and visiting with troops in the past so we wouldn't be surprised if he did that again today. i will tell you that bo the dog is actually along for the ride here in hawaii and the white house released a video where bo just really kind of steals the show. let's look at a little of that. this
hit the fiscal cliff. what happens to your bottom line if you do? january 1st all the bush tax cuts will expire, all of them with taxes going up an average of $1,600 per household. the payroll tax holiday also expires, that means the tax burden will rise an average of $700 per household. extended unemployment benefits, the ones we were talking about with lisa expire, so collection of unemployment benefits will shrink from 79 or 99 weeks back to 26 weeks in six months. the medicare doc fix expires, a 27% cut in physician payments and the alternative minimum tax will expand to 27 million more americans for whom it was not intended. obama care taxes hit, a 0.9% jump in medicare payroll taxes for those earning $200,000 or more, that is likely to happen regardless of whether or not there's any fix. i bring in senator richard blumenthal, a democrat from connecticut. thanks for joining us. we have five days to go. you think we'll get a deal. >> i'm hopeful. there's sufficient time to reach a deal if we use the common ground we have and that common ground is nobody wants to go over the fisc
. >>> now, to the fiscal cliff. still looming large as president obama returns to the white house this morning. the president cut short his christmas vacation in hawaii to get back to washington. congress will be in session today, amidst fading hope that a deal could be reached by the new year. no agreement would mean spending cuts and historic tax hikes for virtually every american. >>> officials in newtown have a message for people who want to send gifts to the grief-stricken town. please don't. they say gifts have arrived in such numbers, they overwhelmed the small community's ability to process them. a fund established after the shooting to support newtown has grown to $3.5 million. >>> meanwhile, hundreds of schoolteachers plan to attend firearms training today in salt lake city. the 200 teachers come from districts across utah. they have volunteered for the concealed weapons training. organizers say in past years, only a few dozen teachers attended the training. they're expecting an overflow crowd because of this month's tragedy in newtown, connecticut. >>> west webster volu
% that are required in the so-called fiscal cliff. agencies will decide which employees to lay off and when. as part of these preparations, the administration also has notices it will soon deliver to delay or cancel federal government contracts. as for negotiations themselves it is a bit of a team effort here at the white house. president obama is dealing directly and spoke frequently sunday with the senate majority leader harry reid while vice president joe biden spoke frequently sunday with republican leader in the senate mitch mcconnell. mcconnell and biden get along much better than mcconnell does with president obama. in the last 24 hours, the administration has given ground on raising threshold for income tax rates and estate tax rates, but also demanded much more in new government spending the republicans are comfortable with. it's that division between spending and taxes that continues to divide both sides, and that is the one thing that may prevent a deal from being achieved in the final hours as we get nearer to the fiscal cliff. >> major garrett, thank you. se
Search Results 0 to 49 of about 134 (some duplicates have been removed)